On October 1, 2025, Corteva’s Board of Directors unanimously approved a plan to separate the company into two independent, publicly traded entities: New Corteva, comprising the crop protection business, and SpinCo, comprising the seed business. The announcement, made by the company’s CEO Chuck Magro, stated that the split will allow each unit to focus on its core markets and pursue tailored growth strategies.
The separation is expected to be completed in the second half of 2026 and will be structured as a tax‑free spin‑off for Corteva shareholders. The transaction will require final board approval, a favorable legal opinion on tax treatment, and the filing of a Form 10 registration statement with the SEC. Until those conditions are met, the split remains a planned, not yet executed, transaction.
Financial projections for the two new companies are outlined in the release: New Corteva is estimated to generate net sales of $7.8 billion, representing 44% of Corteva’s current sales, while SpinCo is projected to generate $9.9 billion, or 56% of current sales. Greg Page will become Chair of New Corteva, and Chuck Magro will serve as CEO of SpinCo, with full board and management teams to be announced later.
The rationale behind the split is to unlock shareholder value by allowing each business to pursue its own capital allocation priorities, operational efficiencies, and market opportunities without the constraints of a combined structure. By separating the crop protection and seed units, Corteva aims to enhance strategic focus, improve operational execution, and potentially increase the overall valuation of the combined entities.
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